Staffing 360 Solutions Regains Nasdaq Listing Compliance
Staffing 360 Solutions, Inc. (NASDAQ: STAF) announced on November 12, 2020, that it has regained compliance with the Nasdaq minimum bid price requirement, resolving a previous compliance issue. The Nasdaq has closed this matter. Brendan Flood, CEO, emphasized the company's focus on growth and shareholder value following a successful restructuring of senior debt. Staffing 360 continues to pursue an international buy-integrate-build strategy targeting staffing organizations across various sectors in the U.S. and the U.K.
- Regained compliance with Nasdaq's minimum bid price requirement.
- Successful restructuring of senior debt.
- Continued focus on growth and shareholder value.
- None.
NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Staffing 360 Solutions, Inc. (NASDAQ: STAF), a company executing an international buy-integrate-build strategy through the acquisition of staffing organizations in the United States and the United Kingdom, today announced that it has received written notice from the Nasdaq Stock Market Listing Qualifications Staff on November 12, 2020, indicating that the Company has regained compliance with the minimum bid price requirement as set forth in Nasdaq Capital Markets Listing rule 5550(a)(2). Nasdaq considers the matter closed.
Brendan Flood, Chairman and Chief Executive Officer, said, “With this matter now resolved, and the previously announced recent successful restructuring of our senior debt, we continue our laser focus on driving growth and creating shareholder value.”
About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. is engaged in the execution of an international buy-integrate-build strategy through the acquisition of domestic and international staffing organizations in the United States and United Kingdom. The Company believes that the staffing industry offers opportunities for accretive acquisitions and as part of its targeted consolidation model, is pursuing acquisition targets in the finance and accounting, administrative, engineering, IT, and Light Industrial staffing space. For more information, visit www.staffing360solutions.com. Follow Staffing 360 Solutions on Facebook and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements, which may be identified by words such as "expect," "look forward to," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, market and other conditions; the geographic, social and economic impact of COVID-19 on the Company’s ability to conduct its business and raise capital in the future when needed; weakness in general economic conditions and levels of capital spending by customers in the industries the Company serves; weakness or volatility in the financial and capital markets, which may result in the postponement or cancellation of customer capital projects or the inability of the Company’s customers to pay the Company’s fees; the termination of a major customer contract or project; delays or reductions in U.S. government spending; credit risks associated with the Company’s customers; competitive market pressures; the availability and cost of qualified labor; the Company’s level of success in attracting, training and retaining qualified management personnel and other staff employees; changes in tax laws and other government regulations, including the impact of health care reform laws and regulations; the possibility of incurring liability for the Company’s business activities, including, but not limited to, the activities of the Company’s temporary employees; the Company’s performance on customer contracts; negative outcome of pending and future claims and litigation; government policies, legislation or judicial decisions adverse to the Company’s businesses; the Company’s ability to access the capital markets by pursuing additional debt and equity financing to fund its business plan and expenses on terms acceptable to the Company or at all; the Company’s ability to achieve loan forgiveness under Paycheck Protection Program; and the Company’s ability to comply with its contractual covenants, including in respect of its debt agreements, as well as various additional risks, many of which are now unknown and generally out of the Company’s control, and which are detailed from time to time in reports filed by the Company with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Staffing 360 Solutions does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.
| Investor Relations Contacts: Harvey Bibicoff, CEO Bibicoff + MacInnis, Inc. 818-379-8500 x1 harvey@bibimac.com | Terri MacInnis, VP of IR Bibicoff + MacInnis, Inc. 818-379-8500 x2 terri@bibimac.com |
FAQ
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